A company is considering investing $35,000 in a project with the following anticipated net cash flows:

• Year 1: $10,000
• Year 2: $7,000
• Year 3: $6,000
• Year 4: $11,000
• Year 5: $15,000
• Year 6: $8,000

In what year will payback occur?

• a.)Year 5
• b.)Year 4
• c.)Year 3
• d.)Year 6